Mumbai : Bankrupt telecom company Aircel owes over Rs 19,700 crore to various banks, nearly Rs 1,400 crore to some companies owned by fellow competitor Bharti Airtel and almost Rs 300 crore to Wipro, documents show.
Aircel had filed for voluntary insolvency in February, after banks refused to restructure its debt, resulting in the National Company Law Tribunal placing travel curbs on the company’s promoters, chairman and directors.
SBI leads the list of financial institutions that have outstanding loans with Aircel, and it has dues worth Rs 7,250 crore. Aircel owes a clutch of 10 financial firms another Rs 12,480 crore, with PNB, China Development Bank Corp, Bank of Baroda and Canara Bank seeking Rs 1,920-3,010 crore from the company.
It is the over 2,000 operational creditors of Aircel who are likely to suffer the most as they get deferred priority in repayment in the insolvency process.
